This has been a tumultuous year for small businesses — but there are still ways we can all do our part to help out.
Participation in Small Business Saturday is imperative for those who are able to do so. According to a study by Proceedings of the National Academy of Sciences of the United States of America (PNAS), at least 41% of businesses were forced to temporarily close due to the global health crisis, and a small portion of those businesses have since shuttered permanently.
Small Business Saturday, which was created by American Express in 2010 and falls on the Saturday after Thanksgiving every year, encourages consumers to spend their dollars at independent retailers and restaurants during the busiest holiday weekend in the United States. The event has been highly successful over the years with nearly $20 billion spent by Americans on Small Business Saturday in 2019, the U.S. Small Business Administration reported.